Chief executives of leading banks from Japan, Europe and the United States will meet in London to discuss regulation of the financial sector, according to a report.
The British government will host the talks on March 24, ahead of an April summit of Group of 20 leaders, the Nikkei economic daily said, without naming sources. Invitations have been sent to the chiefs of leading institutions including US-based JPMorgan Chase and Co. and British bank HSBC, it said.
No confirmation of the report was available from the Japanese bank on Saturday. Leaders of the Group of 20 developed and developing nations are to get together in London on April 2.
Supervision of financial institutions is expected to be high on the agenda.
Who will supervise in this new world order? How much power does that entity have over the world economy? How does it enforce its laws, and where do violators get incarcerated? Though the full extent of the financial crisis remains unknown, one thing is almost certain: International regulatory bodies will become more powerful than ever.